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Sheng Siong
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Joelton
Supreme |
26-Mar-2020 09:41
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Worsening virus outbreak a reason to cash in on these two supermarket stocks: DBSUma Devi 25/03/2020, 11:32am SINGAPORE (Mar 25): With the escalating Covid-19 outbreak and more social distancing restrictions in place, there is good reason to believe that grocery retail stocks are rare beneficiaries of the situation. Analysts at DBS Group Research believe that supermarket sales will continue to rise as customers are forced to spend more time at home. In fact, random instances of panic buying are also likely to emerge, which will further bolster these stocks. In a Wednesday report, DBS analyst Alfie Yeo believes that Dairy Farm International (DFI) is one stock to watch. With its share price having plunged some 22% since Mar 6, Yeo attests that the counter is now not only &ldquo attractively valued&rdquo , but also has a dividend yield of more than 5% with a low risk of a dividend per share (DPS) cut. &ldquo Given that earnings would be supported by brisk sales during the Covid-19 outbreak, we believe downside for the stock is limited,&rdquo says Yeo. &ldquo A prolonged outbreak would continue to sustain demand for food and healthcare products as well,&rdquo he adds. As retailers around the world fall prey to supply chain disruptions, Yeo argues that DFI could well be a rare exception as its suppliers have varied procurement sources and are flexible enough to switch products or sources when required. To be sure, the group&rsquo s appointment of a new CEO had marked the beginning of a revamp. &ldquo Following the appointment of new CEO Ian McLeod in 2HFY2017, DFI&rsquo s management strategy includes building up its management capability, growth in China, maintaining a strong position in Hong Kong, revitalising Southeast Asia, and driving digital innovation,&rdquo says Yeo, adding that the group has already shuttered several underperforming and loss-making supermarket and hypermarket stores, mainly in Malaysia, Singapore and Indonesia. &ldquo We expect store performance to improve especially in Southeast Asia, as the new CEO implements plans including product range expansion, space management, pricing strategy, consolidated sourcing,&rdquo shares Yeo. However, Yeo is choosing to remain fairly cautious on this development for the time being, as these strategies will take time to implement and reap benefits. The brokerage is raising DFI&rsquo s FY2020-FY2021 earnings by 3% each, on the back of expectations that sales are going to be brisk for the group&rsquo s supermarket, and health and beauty segments. The brokerage has also raised its sales per store assumptions to reflect better demand for supermarket and healthcare products, and has increased its associates/JV estimates on the back of better performance and contributions from the group&rsquo s Yonghui superstores. &ldquo We believe any share price upside will be driven by earnings recovery over the longer term. Upside risk on the stock is based on DFI&rsquo s ability to turn in more efficient operations to drive earnings growth,&rdquo says Yeo. Another stock the brokerage is bullish on is supermarket operator Sheng Siong Group (SSG), and are banking on resilient sales for the group as more people are forced to stay home. DBS has revised its earnings forecast by 3-11% to factor in a strong performance of the group&rsquo s new stores. Yeo notes that SSG has an 18% slice of the local grocery retail market pie, and is also the second largest mass-market supermarket player behind NTUC Fairprice &ldquo We see Sheng Siong as a key direct beneficiary of supermarket demand in Singapore with almost all its earnings contribution derived domestically in Singapore,&rdquo says Yeo. In addition, Yeo identifies that Sheng Siong is among the few market players who are almost immune to external forces. With some 99% exposure to Singapore and only 1% of operations in China, Yeo says the group is well-placed to deal with the external shocks. &ldquo [SSG is] immune to China from which it receives very little contribution,&rdquo says Yeo. &ldquo Supermarket retail sales improved during SARS in 2003, and locals seeking to avoid crowds would support supermarket sales,&rdquo he adds. DBS has &ldquo buy&rdquo calls on both Dairy Farm International and Sheng Siong Group with respective target prices of US$4.70 and $1.45. The brokerage has also identified the duo as its top picks for the sector in light of their defensive plays and resilient demands. As at 11.19am, shares in Dairy Farm International are trading six cents higher, or 1.52% up, at US$4.02, while shares in Sheng Siong Group are trading flat at $1.10. https://www.theedgesingapore.com/capital/brokers-calls/worsening-virus-outbreak-reason-cash-these-two-supermarket-stocks-dbs |
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satruz
Master |
23-Mar-2020 13:30
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Holding on pretty well
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satruz
Master |
18-Mar-2020 09:15
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Nice rebound today
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satruz
Master |
17-Mar-2020 15:07
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Came down so much..... almost reaching its 1 year low.... maybe can start to nibble a bit | ||||
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investshare
Supreme |
17-Mar-2020 09:24
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Maybe government will take a strategic stake here. | ||||
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SteadyInvest
Member |
17-Mar-2020 09:18
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Not really true. From what i understand, ever since they ipo, the management has learned from ntuc or giant to diversify their sources of goods. That' s why they have a mega warehouse at mandai that stocks for a period of time. Maybe a large portion of leafy vege, fresh chicken and pork from malaysia bah.
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Observers
Elite |
17-Mar-2020 09:14
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If SS paid for the stock in Malaysia and can' t bring into Singapore until the 31st then how? Maybe can use shipping containers? Don' t think their container ports are closed too are they?
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Papason883883
Senior |
17-Mar-2020 09:09
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People queue overnight to buy groceries supposed to be good for SS. But sadly their goods a lot from Malaysia. Will be impacted next 2 weeks from lockdown | ||||
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sengsk
Elite |
12-Mar-2020 19:20
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Take profit and OUT on this stock ASAP More downside detected. ( Just personal view, No encoragement for BUY / SELL ) |
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Justice888
Supreme |
10-Feb-2020 09:47
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Block to collect more
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TA_Expert
Supreme |
10-Feb-2020 01:59
Yells: "The World has changed" |
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Yes, that' s why NTUC and other brands do not set limit on the first day. Let the suckers buy all the old stocks. The supermarkets will love it.
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ken3478
Member |
09-Feb-2020 20:58
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Buy more later throw more Very stupid, 不 怕 沒 貨 ， 只 怕 沒 钱 💰 | ||||
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sengsk
Elite |
09-Feb-2020 20:51
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Actually consumers are helping them clear old stock getting into expiry soon. |
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Wind22i
Supreme |
09-Feb-2020 20:34
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Yes, supply plenty, this counter nothing la.. | ||||
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bishan22
Supreme |
09-Feb-2020 20:18
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Toilet papers at all supermarket... all top up liao...seem like back to good times again....Guess customers will skip this counter for months to come..👍 | ||||
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pasttime
Supreme |
09-Feb-2020 14:45
Yells: "gold silver are real money. not others iou." |
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if things start to raise in price due to dear, all their inventory in warehouse will gain in value. this grocer will bo ta chi huat ah. |
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Shifu8888
Supreme |
09-Feb-2020 13:17
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I mean think-tank scholars should / must / ought to have scenario planning: ie if declare Orange, what is the likely scenario repercussion such as stampede / mad rush for hoarding and if so, what is government plan. This is what I meant. Not a low baller supplementary remarks by you.
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Wind22i
Supreme |
09-Feb-2020 13:12
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Aside putting a limit on purchase they shld also put limit on the price of controlled items..otherwise ppl or company will try to profiteeer...
U dont need scholar to figure it out, just ask those kiasu aunties or secondary school student... lol |
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Shifu8888
Supreme |
09-Feb-2020 12:55
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This further proves our world class government is too slow in their reaction. Should have done so when they declare Orange. What those think-tank scholars doing? By doing so now, more aunties will wiggle loop hole to stock pile more cos this shows stock really running low!!!!!
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investshare
Supreme |
09-Feb-2020 12:53
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SINGAPORE: Shoppers at all NTUC FairPrice outlets will only be allowed to buy four packs of paper products, two bags of rice and four bundle packs of instant noodles per customer from Sunday (Feb 9). In a notice put up in stores across Singapore on Sunday morning, FairPrice said the purchase limits were put in place ?to ensure more customers have access to high-demand items?. Advertisement The S$50 limit for vegetables also remained in place. The move came after supermarkets saw a surge in demand for groceries and personal hygiene items, after the Government raised its Disease Outbreak Response System Condition (DORSCON) level to Orange due to the global coronavirus outbreak. |
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